Introduction to Financial Accounts – Revised FYBMS Syllabus 2016



Introduction to Financial Accounts – Revised FYBMS Syllabus 2016

Modules at a Glance

Sr. No. Modules No. of Lectures
1 Introduction 15
2 Accounting Transactions 15
3 Depreciation Accounting & Trial Balance 15
4 Final Accounts 15
Total 60

Introduction to Financial Accounts – Syllabus

Sr. No. Modules / Units
1 Introduction
  • Meaning and Scope of Accounting: Need and development, definition: Book-Keeping and accounting, Persons interested in accounting, Branches of accounting, Objectives of accounting
  • Accounting principles: Introductions to Concepts and conventions.
  • Introduction to Accounting Standards: Meaning and Scope)
  • AS 1 : Disclosure to Accounting Policies
  • AS 6: Depreciation Accounting.
  • AS 9: Revenue Recognition.
  • AS 10: Accounting For Fixed Assets.
  • International Financial Reporting Standards (IFRS): Introduction to IFRS
  • IAS-1:Presenttion of Financial Statements (Introductory Knowledge)
  • IAS-2:Inventories (Introductory Knowledge)
  • Accounting in Computerized Environment: Introduction, Features and application in various areas of Accounting
2 Accounting Transactions
  • Accounting transactions: Accounting cycle, Journal, Journal proper, Opening and closing entries, Relationship between journal & ledger: Rules regarding posting: Trial balance: Subsidiary books (Purchase, Purchase Returns, Sales, Sales Returns & cash book –Triple Column), Bank Reconciliation Statement.
  • Expenditure:Classification of Expenditure- Capital, revenue and Deferred Revenue expenditureUnusual expenses: Effects of error: Criteria test.
  • Receipts: Capital receipt, Revenue receipt, distinction between capital receipts and revenue receipts.
  • Profit or Loss: Revenue profit or loss, capital profit or loss
3 Depreciation Accounting & Trial Balance
  • Depreciation accounting: Practical problem based on depreciation using SLM and RBM methods. (Where Provision for depreciation Account not maintained).
  • Preparation of Trial Balance:Introduction and Preparation of Trial Balance
4 Final Accounts
  • Introduction to Final Accounts of a Sole proprietor.
  • Rectification of errors.
  • Manufacturing Account, Trading Account, Profit and Loss Account and Balance Sheet.
  • Preparation and presentation of Final Accounts in horizontal format
  • Introduction to Schedule 6 of Companies Act ,1956


Reference Books for Subject: Introduction to Financial Accounts 
  • Financial Accounts (a managerial emphasis): By Ashok Banerjee – Excel books
  • Fundamental of Accounting and Financial Analysis : By Anil Choudhary (Pearson education)
  • Indian Accounting Standards and IFRS for non-financial executives : By T.P. Ghosh– Taxman
  • Financial Accounting for Business Managers: By Ashish K. Bhattacharya.
  • Introduction to Accountancy by T.S.  Grewal, S. Chand and Company (P) Ltd., New Delhi
  • Advance Accounts by Shukla and Grewal, S. Chand and Company (P) Ltd., New Delhi
  • Advanced Accountancy by R.L Gupta and M. Radhaswamy, S. Chand and Company (P) Ltd., New Delhi
  • Modern Accountancy by Mukherjee and Hanif, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Financial Accounting by LesileChandwichk, Pentice Hall of India AdinBakley (P) Ltd., New Delhi
  • Financial Accounting for Management by Dr. Dinesh Harsalekar, Multi-Tech. Publishing Co. Ltd., Mumbai
  • Financial Accounting by P.C. Tulsian, Pearson Publications, New Delhi
  • Accounting Principles by R.N. Anthony and J.S. Reece, Richard Irwin, Inc
  • Financial Accounting by Monga, J.R. Ahuja, GirishAhuja and Ashok Shehgal, Mayur Paper Back, Noida
  • Compendium of Statement and Standard of Accounting, ICAI
  • Indian Accounting Standards, Ashish Bhattacharya, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Financial Accounting by Williams, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Company Accounting Standards by ShrinivasanAnand, Taxman, New Delhi
  • Financial Accounting by V. Rajasekaran, Pearson Publications, New Delhi
  • Introduction to Financial Accounting by Horngren, Pearson Publications, New Delhi
  • Financial Accounting by M. Mukherjee and M. Hanif, Tata McGraw Hill Education Pvt. Ltd., New Delhi
  • Financial Accounting a Managerial Perspective, Varadraj B. Bapat, MehulRaithatha, Tata McGraw Hill Education Pvt. Ltd., New Delhi


Like it? Share with your friends!

BMS Team

We, at, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected].


Warning: Undefined array key "html5" in /home/bmsnewco/public_html/wp-content/plugins/facebook-comments-plugin/class-frontend.php on line 140

Facebook comments:

This Website Is For Sale. Email us an offer we cannot refuse on [email protected] :)

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Upload your own images to make custom memes
Youtube and Vimeo Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format